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Tsogo Sun and Sun Overseas Think About New Western Cape Casino Deal

Mittwoch, Januar 1st, 2020

Tsogo Sun and Sun Overseas Think About New Western Cape Casino Deal

South gambling that is african Tsogo Sun and Sun Overseas have revived plans for Western Cape casino ownership reshuffle. Tsogo Sun has revealed it would obtain a 20% stake in 2 Sun Overseas subsidiaries that operate casinos into the Western Cape.

Final summer time, the 2 businesses canceled a deal, beneath the regards to which Tsogo Sun would have compensated R2.1 billion for a stake in 2 Western Cape gambling venues GrandWest Casino and Golden Valley Casino, owned by its Sun that is rival Overseas. Following a study by the regulators that are relevant the country’s Competition Commission recommended that your competition Tribunal prohibit the offer. If, nonetheless, the transaction have been finished, Tsogo Sun could have had impact in most five casinos operating in the Western Cape.

Less than a year after the two gambling organizations abandoned the deal, they’ve been now planning to materialize another, less committed, idea. Tsogo Sun has announced it is to purchase a 20% stake in Sun International’s subsidiaries SunWest Overseas and Worcester Casino. The company is to spend the quantity of R1.3 billion.

Hence, Sun Overseas would stay in control of a controlling stake within the two businesses and would additionally allow for its partner Grand Parade Investments to remain involved in the South gambling industry that is african. Individuals with familiarity with the problem proposed that the proposed deal would be categorized being a non-notifiable, meaning it’s not apt to be investigated by competition authorities. (mehr …)